Now, is probably the best time to buy a home as interest rate drops significantly. Mortgage rates fell to the lowest level in nine months, and in response, mortgage applications jumped more than 20 percent. Lower mortgage rates combined with continued income growth and lower energy prices are all positive indicators for consumers that should lead to a firming of home sales.
The Best Time to Buy a Home is Now!
This low mortgage rate may not stay for very long, buy a home now. 30-year and 15-year FRM show both significant drops in their rates from 4.51% to 4.45% and from 3.99% to 3.89% respectively. 5/1 ARM rate also drops from 3.98% to 3.83%. Although these rates are relatively higher compared to January 2018 which puts them at 3.95% and 3.38% respectively.
This news from Freddie Mac indicated a rare opportunity despite the current status of housing affordability. If you can close a mortgage with this current rate it will be financially sound for you and your family. Home Mortgage Alliance Corporation (HMAC), NMLS #1165808 has partners and DBAs which can assist you in ensuring that you get the best home deal.
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